T Bone Burnett (“Nashville,” “O Brother, Where Art Thou?”) is producing the soundtrack which includes contributions from Isaac, Timberlake and Mulligan’s Grammy-winning husbandMarcus Mumford of the group Mumford & Sons.

The Coen Brothers’ last film was the multi-Oscar nominated box office hit “True Grit.” There has been speculation that “Inside Llewyn Davis” will officially premiere at this year’s Cannes Film Festival in May.

Landing a Coen Brothers movie is a major coup for the relatively new CBS Films — the theatrical arm of CBS Corporation — which got off to a rocky start with box office disappointments including “Extraordinary Measures,” “The Back-Up Plan” and “Beastly.”

More recently, the distributor has started to find its footing with the Daniel Radcliffe hit “The Woman in Black,” the Golden Globe nominated “Salmon Fishing in the Yemen” and critically acclaimed “Seven Psychopaths.” CBS Films’ next release, horror sequel “The Last Exorcism Part II,” opens March 1.